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WEDNESDAY July 12, 2006 TRADE GAP WIDENS IN MAY 2006 U.S. international trade in goods and services USCENSUSBUREAU Helping You Make Informed Decisions The U.S. monthly goods and services deficit widened in May 2006, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $63.3 billion (revised) in April to $63.8 billion in May, as imports increased more than exports. Balance on Goods and Services Trade [Monthly, seasonally adjusted] ($ in Billions) $0 -$10 -$20 -$30 -$40 -$50 -$60 -$70 1999 2000 2001 2002 2003 2004 2005 2006 Exports Exports of goods and services increased $2.7 billion in May to $118.7 billion, as both goods exports and services exports increased. The increase in goods exports mostly reflected increases in capital goods, industrial supplies and materials, and consumer goods. The increase in services exports mostly reflected increases in business, professional, technical, and other private services, in travel, and in passenger fares. Imports Imports of goods and services increased $3.2 billion in May to $182.5 billion, as both goods imports and services imports increased. The increase in goods imports was more than accounted for by an increase in industrial supplies and materials. Automotive vehicles, parts, and engines and foods, feeds, and beverages decreased. The increase in services imports mostly reflected increases in freight, port, and other transportation and in business, professional, technical, and other private services. Goods by geographic area (not seasonally adjusted) The goods deficit with China increased from $17.0 billion in April to $17.7 billion in May. Exports increased $0.2 billion to $4.5 billion, while imports increased $0.9 billion to $22.3 billion. The goods deficit with the European Union increased from $9.4 billion in April to $10.8 billion in May. Exports increased $0.9 billion to $18.4 billion, while imports increased $2.3 billion to $29.2 billion. The goods deficit with Japan decreased from $7.8 billion in April to $7.1 billion in May. Exports increased $0.4 billion to $4.8 billion, while imports decreased $0.3 billion to $11.9 billion. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the July 12 press release issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, U.S. International Trade in Goods and Services: May 2006. The next release is August 10, 2006. Contacts: Services: Ralph Stewart 202-606-2649 Goods: Vanessa Ware 301-763-2311 Bureau of Economic Analysis, U.S. Department of Commerce U.S. Census Bureau, U.S. Department of Commerce